Crypto moves fast and the stakes keep getting higher. A $4 trillion market recovery, new state-level crypto laws, and a record $15 billion seizure made this week very eventful. The industry is reshaping itself in real time.
These are the biggest moves you don’t want to miss.
#1 Crypto Market Surges to $4 Trillion in Q3; Biggest jump in years
Good news for the crypto market. CoinGecko’s Q3 2025 report shows that the total market capitalization increased by 16.4%, adding $563.6 billion to reach $4 trillion – the highest level since the end of 2021. The report called this the market’s largest market capitalization. ‘second phase of recovery’ driven by new liquidity, rising institutional inflows and a sharp recovery in trading activity.
Average daily trading volume rose 43.8% to $155 billion, marking crypto’s strongest quarter in years and a sign of renewed investor confidence.
#2 New California law bans forced liquidation of Bitcoin and Ethereum
California has taken a big step for crypto holders. Governor Gavin Newsom signed SB 822making California the first US state to ban the forced liquidation of unclaimed cryptocurrency. The law, sponsored by Senator Josh Becker, requires the state to hold assets such as Bitcoin and Ethereum in their original form rather than converting them into cash.
Coinbase Chief Legal Officer Paul Grewal thanked Newsom for the move, saying it protects Californians’ crypto investments from being sold without permission.
#3 US seizes record $15 billion worth of Bitcoin
The US has carried out its largest crypto seizure ever and is on its way to taking control $15 billion worth of Bitcoin connected to a massive global scam from Cambodia. Authorities say the operation was led by Chen Zhi, head of Prince Holding Group, who forced employees into “pig slaughter,” defrauding victims worldwide.
The DOJ, Treasury Department and British regulators jointly led and called the crackdown “a global response to a global crime.” More than 127,000 BTC linked to the network are now under US seizure.
#4 Binance backtracks on allegations of $2.5 million in listing fees
Binance has denied claims that it demanded more than $2.5 million and 9% of tokens from Limitless Labs for a token listing. The accusation came from CEO CJ Hetheringtonwhose viral X-thread accused Binance of profiting from innovation.
Binance mentioned the claims “false and defamatory,” say the deposits are refunded and used for security. CZ hit back and urged builders “Focus on strong products,” While critics said the issue exposed how opaque listing practices still are.
Also read: Is the Rise of Gold an Urgent Warning Sign for Bitcoin and the Global Economy?
Crypto.com CEO Kris Marszalek has urged regulators to investigate exchanges after a record $20 billion in crypto liquidations. In a post on
CoinGlass data shows that Hyperliquid has suffered losses of $10.3 billion, followed by Bybit and Binance. Binance later confirmed a depeg issue related to Ethena’s USDe, leading to user complaints and a public apology from Yi He due to platform errors.
#6 10x Survey Marks Collapse of Bitcoin Treasury Stocks – $17 Billion Gone!
Bitcoin treasury trading is booming. A new 10x Research Report says investors have lost more than $17 billion on stocks like MicroStrategy and Metaplanet, once seen as the smarter way to bet on Bitcoin.
At their peak, these companies traded at up to four times their Bitcoin value, but as markets cooled and sentiment changed, those premiums disappeared. 10x calls it “the end of financial magic,” because even top companies are now under pressure to prove real value beyond the hype.
#7 Florida Revives Crypto Reserve Plan With New Bitcoin Law
Florida is taking another step toward crypto adoption. Lawmakers have introduced House Bill 183which would allow the state’s financial director to invest up to 10% of public funds in Bitcoin and crypto ETFs. The proposal includes strict retention and compliance measures to ensure security and compliance with federal standards.
If the bill passes, residents would also be able to pay some taxes and fees in digital assets — a clear signal that Florida wants to include Bitcoin back into its long-term financial plans.
Read more: $19 Billion Crypto Crash Shows Market Makers Can Break the Market Too
#8 Paxos Accidentally Mints $300 Trillion of PayPal Stablecoin
Paxos, the issuer behind PayPal’s PYUSD stablecoin, accidentally minted $300 trillion worth of tokens during an internal transfer on Wednesday. The company quickly noticed the error and burned the excess within twenty minutes.
The incident briefly stunned the crypto community, given PYUSD’s actual market cap of just $2.6 billion. Paxos, regulated by New York DFS, said the issue has been fully resolved.
#9 Coinbase introduces crypto platform for small businesses
Coinbase is expanding beyond retail with Coinbase Business, a new platform for small and medium businesses. The service allows businesses to accept crypto payments, manage assets and earn up to 4.1% APY on USDC holdings.
It integrates with QuickBooks, Xero, and crypto tax tools, aiming to simplify accounting and payroll. Coinbase says onboarding takes just two days. This move puts the exchange in direct competition with fintech players such as Mercury, Brex and BitPay.
#10 SBF Accuses Gensler, DOJ of Silencing Him Before Key Crypto Vote
Sam Bankman-Fried has claimed his 2022 arrest was politically driven after he started donating to Republicans. Posted on GETTRthe FTX founder said he moved from “center-left” in 2020 to a more centrist view in 2022, frustrated by the Biden administration’s crypto crackdown under SEC Chairman Gary Gensler.
SBF claimed that the SEC and DOJ were “hounding” him right before a major crypto vote and his testimony in Congress. He added that Gensler later “conveniently lost” messages related to that period.
In the spotlight
Here are some quick hits you shouldn’t miss!
Japan hints at interest rate hikes as inflation remains highThe Bank of Japan could raise rates soon, with officials saying any move will depend on economic data as the country moves away from years of ultra-loose policy.
Kenya passes crypto law to attract investorsParliament has approved a bill to regulate digital assets, giving the central bank oversight of crypto and stablecoin licenses to boost investment in the sector.
Australia Plans Crackdown on Crypto ATMs Due to Scam Fears: Australia will give it financial watchdog AUSTRAC powers to restrict or ban crypto ATMs amid rising risks of money laundering and fraud, as the machines now process $275 million annually.
Coinbase invests in CoinDCXThe US exchange backed Mumbai-based CoinDCX at a $2.45 billion valuation, amplifying its push on the fast-growing crypto markets across the region.
Robinhood embraces copy trading after earlier warnings: The trading app will a verified copy-trading feature in the US next year, allowing users to manually mirror the moves of top traders while staying compliant with regulators.
What’s next for Crypto?
Major shifts we can expect in the future
- Market momentum is back, but confidence is still fragile after the $19 billion fallout.
- Governments are moving from crackdowns to clarity as new crypto laws take shape worldwide.
- Institutional players are redefining adoption – from state reserves to small business financing.
- Stock market scandals force transparency, raising the bar for safety and accountability.
- Decentralization is moving towards integration as banks and fintechs join the chain.
Stay tuned – the coming weeks could determine where the global crypto story goes from here.